Roman Abramovich Hands Over Chelsea (See New Holder)

• Chelsea owner, Roman Abramovich, has handed over control of the club to a charitable organisation.

• Abramovich has owned Chelsea since 2003 but his position has been under scrutiny since Russia invaded Ukraine

EKO HOT BLOG reports that Abramovich made this known in a statement on Saturday.

This is following the decision of Russian President, Vladimir Putin ,to go to war with neighbouring Ukraine. Roman Abramovich who was recently barred from entering Britain is believed to be on the side of Putin.

Read Also: JUST IN: Chelsea’s Russian Owner Abramovich Barred From Living In UK

European Union, EU, are seizing assets belonging to Russians and the Russian government as part of their sanctions on the country.

There have been calls for Chelsea to be taken away from Abramovich and the billionaire businessman on Saturday handed the club’s care and stewardship over to Chelsea’s Charitable Foundation, saying he believes they are in the best position to take proper care of it.

The Russian billionaire, who has invested over £1billion into the Stamford Bridge club since purchasing it in 2003, will not be asking the club to repay the loans it owes him – meaning the long-term future of the club remains secure.

The Chelsea Foundation’s trustees are Bruce Buck, John Devine, Emma Hayes, Piara Powar, and Hugh Robertson.

For transfers, executive director Marina Granovskaia, technical advisor Petr Cech and head coach Thomas Tuchel will continue to operate within the budgets set by the club.

His statement reads:
“During my nearly 20-year ownership of Chelsea FC, I have always viewed my role as a custodian of the Club, whose job it is ensuring that we are as successful as we can be today, as well as build for the future, while also playing a positive role in our communities.

“I have always taken decisions with the Club’s best interest at heart. I remain committed to these values. That is why I am today giving trustees of Chelsea’s charitable Foundation the stewardship and care of Chelsea FC.

“I believe that currently, they are in the best position to look after the interests of the Club, players, staff, and fans.”

It is understood Abramovich will no longer be involved in club matters on a day-to-day basis and all long-term strategic decision-making powers are being handed over to the Chelsea Foundation.

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